Acc 290 WileyPLUS Assignment Week 1 Assignment - ACC 290 DQ...

  • University of Phoenix
  • ACC 290
  • Homework Help
  • supercurvy
  • 5
  • 93% (76) 71 out of 76 people found this document helpful

This preview shows page 1 - 2 out of 5 pages.

ACC 290 DQ week 1 Do It! Review 1-3 Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014. Accounts payable $ 7,820 Notes payable $ 12,640 Accounts receivable 4,820 Rent expense 12,820 Advertising expense 4,310 Retained earnings ? Cash 5,920 Service revenue 30,640 Common stock 17,820 Supplies 4,720 Dividends 5,320 Supplies expense 1,390 Equipment 29,620 Your answer is correct. Prepare an income statement for Marsh Corporation. Prepare a retained earnings statement for Marsh Corporation. (List items that increase MARSH CORPORATION Income Statement For the Year Ended December 31, 2014 $ $ $ Revenues Service Reven 30640 Expenses 18520 12120 MARSH CORPORATION Retained Earnings Statement For the Year Ended December 31, 2014 $ : : $ Retained Earnings, January 1 0 Add Net Income / (Loss) 12120 12120 Less Dividends 5320 Retained Earnings, December 31 6,800

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture